Tim O’Reilly is widely credited with coining the term Web 2.0. His definition is “the business revolution in the computer industry caused by the move to the Internet as platform, and an attempt to understand the rules for success on that new platform” but in May 2007, Eric Schmidt, CEO of Google said, “Web 2.0 is a marketing term”. Web 2.0 calls for an investigation into stable internet technologies and then to conduct a thorough review to look at opportunities in terms of products, markets and even internal business operations.Whilst the product and market opportunities may have a larger risk and longer profit cycle, using the internet for internal business operations has the most attractive appeal due to its ability to hit at the cost base that is the focus of many senior executive agendas. Let’s quickly examine a number of opportunities across the financial services industry.